Fixed deposits are one of the most stable investment tools to amplify savings. They do not have the risk factor of equities and give higher returns than a bank savings account. Here’s why you should invest in fixed deposits right now:
- High gains: Fixed deposits provided by Non Banking Financial Companies (NBFCs) give higher FD rates than those that banks offer. For instance, Bajaj Finance FD gives some of the highest FD rates that go up to 8.05%. You can avail higher interest rates with longer tenors.
- Systematic Deposit Plan (SDP): This is an unprecedented feature introduced by Bajaj Finance FD. Under this, an investor can put small monthly deposits, instead of having to gather a large sum to invest. The depositor can choose between 6 and 48 monthly deposits. Each deposit can be chosen to last for a minimum of 12 months and a maximum of 60 months. Every deposit is treated as a separate fixed deposit under this plan. You can start an SDP with just Rs. 5,000 as your monthly deposit.
- Diverse tenors and interest payout options: Fixed deposits can take care of the long term as well as short term goals. You can choose to go for a minimum of 12 months and a maximum of 60 months with a Bajaj Finance FD. If you are looking to accumulate a large corpus, you can go for a ‘cumulative FD’ that pays out only at the time of maturity. To look after daily expenses, a ‘non-cumulative FD’ can be opened for monthly, quarterly, half-yearly or yearly interest payouts.
- Premature withdrawal: Along with some of the best fixed deposit rates in India, Bajaj Finance FD also offers the option of premature withdrawal at a minimal fee. To avoid losing interest, you can also avail a loan against your FD up to 75% of the total FD amount. This creates a safety net in the time of emergencies.
- High stability: If you are looking for a safe investment option that gives stable returns, fixed deposits are the way to go. Look for the credit ratings of FD providers to determine their stability. Bajaj Finance FD is the only Indian NBFC with an international rating of ‘BBB’ by S&P Global. It also has the highest stability ratings from reputed Indian credit rating agencies – CRISIL’s FAAA/Stable rating and ICRA’s MAAA/stable rating.
- Ease of investing: Features like a simple online application, auto-renewal and multi deposit facility make Bajaj Finance FD as one of the best investment options.
If you are looking for the best fixed deposits rates in India, the below table shows why Bajaj Finance FD might be the right choice:
|Annual rate of interest valid for deposits up to Rs.5 crore (w.e.f 05 March 2020)|
|Tenor in Months||Minimum deposit (in Rs.)||Cumulative||Non-Cumulative|
|12 – 23||25,000||7.60%||7.35%||7.39%||7.46%||7.60%|
|24 – 35||7.65%||7.39%||7.44%||7.51%||7.65%|
|36 – 47||7.70%||7.44%||7.49%||7.56%||7.70%|
|48 – 60||7.80%||7.53%||7.58%||7.65%||7.80%|
You can consider investing in Bajaj Finance FD to get the highest FD rates and earn higher returns from fixed deposits.